Sam Hurley | Businesses

Sam Hurley

Phone: +61 404 078 802

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24.01.2022 As the country tuned in for the 2020 Melbourne Cup, the cash rate decision for November has been announced and rates have been cut. In response to the economic impact being caused by the COVID-19 crisis, the RBA reduced the cash rate by 0.15% to a new record low of 0.1%. In making this change the RBA has confirmed the views of many analysts that further stimulus is required to aid Australia's recovery post Covid. It had previously stated that it sees a cash rate of 0.25% a...s a floor however it has softened its stance on a reduction more recently. In the lead up to its next meeting our central bank will continue to monitor world events such as the second round of European lockdowns and the US election, while closer to home it will be hoping the easing of restrictions in Victoria and the opening of state borders will provide a lift to the economy. Here is a table showing how Australia's average mortgage sizes may be affected: Loan Amount Examples Likely decrease in repayments $150,000 $12.91 per month $250,000 $21.52 per month $350,000 $30.12 per month $450,000 $38.73 per month $550,000 $47.34 per month $650,000 $55.95 per month As you're probably aware, lenders review rates independently of the RBA and some may decide to pass this rate decrease on to customers at different levels over varying time frames. I can help review your situation to ensure you have the right loan for your circumstances, drawing on a wide panel of lenders offering loans with great features, low fees and competitive interest rates. If you'd like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please don't hesitate to give me a call.

23.01.2022 Stage 4 restrictions mean you can't physically visit a property for an inspection. It is a good time however, to start looking at your loan options so you are ready to go when the restrictions are lifted. Feel free to contact me to discuss your finance requirements.

18.01.2022 As expected, the Reserve Bank of Australia kept the cash rate at 0.25% at its meeting today as the country continues to deal with the COVID-19 pandemic. The RBA, conscious of reductions in consumer spending, further falls in house prices and the flow on economic impact of stage four restrictions in Victoria, has consistently stated that it sees a cash rate of 0.25% as the floor. With rates at a record low and lenders continuing to offer very competitive rates, why not review your situation to ensure you have the right product for you right now? I am here to help if you have any questions or wish to review your circumstances. Please don't hesitate to give me a call.

18.01.2022 While we have more time on our hands (unless you are home schooling like me) it's a great time to have a look at where your money goes and get a budget in place. Click on link to open the budget planner.

17.01.2022 I've been back working from my office for a week now. No more zoom interviews and doing everything via email! If you would to like to make a time to discuss your finance requirements before Christmas, book in now so you don't miss out!!

13.01.2022 https://buff.ly/2VKM7Jn I love looking at beautiful homes. Thought I would share these ones with you.

12.01.2022 Could be useful info for all those working from home.

11.01.2022 If you have been thinking about building a new home or carrying out an extension or renovation, now might be the time to meet with me and work through your options. The Federal Government's new $680 million Home Builder program announced on 4 June 2020 makes available $25,000 grants to help build or substantially renovate your home. How does the Home Builder program work?* The scheme is only available for contracts signed between 4 June 2020 and 31 December 2020 Constru...ction must commence within three months of the contract date It is means-tested Only available for principal place of residence Limitations on the kinds of renovations (sorry, no tennis courts or pools) and subject to a total value cap I'm here to help. If you're a first home buyer, there are a range of first home buyer and state government grants, stamp duty concessions and rebates as well as the federal First Home Loan Deposit Scheme and First Home Super Saver Scheme that are available and work in conjunction with the Home Builder grant. If you would like to discuss how you could take advantage of the Home Builder program, either for an extension or renovation on your existing home or to build a new home, please feel free to get in contact.

10.01.2022 Just saved an existing client $72 a month by calling his current bank and requesting a rate reduction. I'd love to see if I can get a better deal for all of my clients. Send me a message if you would like me to see what options are out there for you.

09.01.2022 I've had a lot of queries on the Governments Home Builder $25k Grant. To qualify owner-occupiers must meet the following eligibility criteria: you are a natural person (not a company or trust); you are aged 18 years or older;... you are an Australian citizen; you meet one of the following two income caps: $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or $200,000 per annum for a couple based on both 2018-19 tax returns or later; you enter into a building contract between 4 June 2020 and 31 December 2020 to either: build a new home as a principal place of residence, where the property value does not exceed $750,000; or substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million; construction must commence within three months of the contract date Feel free to contact me or click on the link below to find out more. https://treasury.gov.au//2020-06/Fact_sheet_HomeBuilder.pdf

08.01.2022 Are you still having to work from home? I've been back in the office for a few weeks now. Here is some tips to make working from home work.

07.01.2022 If you have your home loan on a "repayment holiday" (payment pause), this is a good read.

05.01.2022 Just wanted to check in to see how you were all going during these unusual times? Hoping you can find something to be grateful for each day. I'm grateful for the extra time I get to spend with my teenagers during lockdown - they would normally be out with their friends, not hanging out with their parents! I'd love to hear what you are grateful for.

04.01.2022 YAY, home inspections are back!! Private inspections now open for Melbourne Metro and regional Victoria A further easing of restrictions in metropolitan Melbourne from Monday 28 September mean that private inspections are allowed to resume with strict rules.... Under Second Step restrictions, property inspections are allowed to be conducted with one real estate agent and one prospective buyer or tenant along with their household or intimate partner. Contactless inspections are via booking only and are limited to 15 minutes in duration. Melbourne residents are not permitted to travel to regional Victoria to inspect properties. In regional Victoria, inspections for prospective buyers or tenants can be conducted by private appointment under Third Step restrictions announce on September 16. Inspections are limited to one real estate agent and one interested party. Social distancing, the wearing of masks and other hygiene practices must be carried out during the visit. If you don't already have your pre-approval in place, contact me to arrange.

04.01.2022 HOW WILL YOU FEEL AFTER A MORTGAGE HOLIDAY? Like many people you may have taken up your lender’s offer of a mortgage repayment pause. While this can certainly help in the short-term, there are long-term ramifications you should watch out for. The lenders aren’t just giving you these payments for free. Instead, the amount of interest you missed is getting added on to the principal of the loan. This is called interest capitalisation. In short, after the mortgage pause you will ...have a bigger loan and your repayments will likely be more than before the ‘holiday’. And things like monthly fees (based on the size of your loan) could be added to your loan balance. HOW CAN YOU AVOID MORTGAGE STRESS? Your circumstances are unique, and our world is shifting week to week. Changes in the economy, society, health, employment and government support will affect every one of us in different ways. Knowing how government support is being delivered is one thing. If you are receiving this support, it can help you plan for the next few months. But there are many other things you can do to protect your financial well-being and avoid mortgage stress. For instance, should you swap to an interest-only loan? With interest rates at a historic low, is it a good time to fix your loan? Or split your loan? Or is there a more suitable loan out there that could help save you money? Maybe you’re fortunate enough not to have had an income loss during this time and therefore might be considering opportunities to invest in the property market. In these times, it’s a good idea to reach out and get help. And that’s why I'm here. I can answer your questions and look at your circumstances to make sure you’re prepared for what could be coming next. This could mean refinancing or approaching your lender for a better rate. Because I do this type of work every day, I have a pretty good idea what lenders can do to win or keep your business. While sometimes it can feel like things are out of our control, you can take control of your mortgage. Get in touch and I can help you find the financial product that’s right for you, right now. Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.

03.01.2022 Best part of my job is telling first home buyers that their loan is approved. So happy for them.Best part of my job is telling first home buyers that their loan is approved. So happy for them.

02.01.2022 I always love giving the exciting news to my clients that their loan has been unconditionally approved. Telling this gorgeous couple was extra special to me because this is my niece and her partner

02.01.2022 Stay safe everyone & look after yourselves. Let's all follow the new rules so we can get back to normal as quickly as possible.